Official statements from the Russian Finance Ministry or credible financial news outlets

Russia Uses Bitcoin in Foreign Trade; Plans Expansion in 2025, Says Finance Minister

Dec 25, 2024, 12:34 PM

Russian companies have begun using Bitcoin and other digital currencies for international payments following legislative changes aimed at countering Western sanctions, Finance Minister Anton Siluanov said. Speaking on state television Russia 24, Siluanov stated, "As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia." He confirmed that such transactions are already occurring and expressed confidence that their use will expand next year and increase further in 2025. This move marks a significant shift in Russia's approach to digital assets as it seeks alternatives to traditional financial systems amid ongoing sanctions.